SCHOTTENSTEIN JAY L 4

What Happened
Jay L. Schottenstein, a reported 10% owner of Designer Brands (DBI), exercised/convered derivative rights tied to restricted stock units (RSUs) on 2026-03-23. The filing shows 196,544 shares acquired via conversion/exercise at $0.00 per share. To satisfy tax withholding, 58,823 shares were surrendered/ disposed at $5.40 per share for $317,644. The report also lists two derivative-related dispositions of 20,486 and 176,058 shares (both recorded at $0.00 in the filing).

Key Details

• Transaction date: 2026-03-23; Form filed: 2026-03-25 (timely filing).
• Exercises/conversions: 196,544 shares acquired at $0.00 per share (derivative conversion of RSUs/dividend equivalents).
• Tax withholding: 58,823 shares disposed at $5.40 per share, total $317,644 (marked as tax payment/withholding).
• Additional derivative dispositions shown: 20,486 and 176,058 shares listed as disposed at $0.00 (per filing).
• Footnotes: Dividend equivalent rights accrued on RSUs become exercisable proportionately; each RSU represents a contingent right to one share.
• Shares owned after the transaction: not specified in the excerpt of the filing.

Context
This was a conversion/exercise of RSU-related derivative rights with shares surrendered to cover tax withholding (a common, administrative cashless outcome), not an open-market purchase or sale for investment. As a 10% owner rather than a company executive, this filing reflects beneficial ownership transactions and routine tax-withholding mechanics rather than an executive trading signal.